Long-term debt obligations on the condensed consolidated balance sheet (in millions):


	June 30, 2022			December 31, 2021
Fixed-rate notes payable due through 2029	$	129		$	163
Fixed-rate PSP notes payable due through 2031	600			600
Fixed-rate EETC payable due through 2025 & 2027	1,002			1,058
Variable-rate notes payable due through 2029	589			738
Less debt issuance costs	(17)			(20)
Total debt	2,303			2,539
Less current portion	342			366
Long-term debt, less current portion	$	1,961		$	2,173

Weighted-average fixed-interest rate	3.6		%	3.7		%
Weighted-average variable-interest rate	2.8		%	1.3		%

Approximately $372 million of the Company's total variable-rate notes payable are effectively fixed via interest rate swaps at June 30, 2022, resulting in an effective weighted-average interest rate for the full debt portfolio of 3.4%.

During the six months ended June 30, 2022, the Company made scheduled debt payments of $222 million and prepayments of $17 million for loans related to Q400 aircraft.

At June 30, 2022, long-term debt principal payments for the next five years and thereafter are as follows (in millions):


	Total
Remainder of 2022	$	146
2023	329
2024	235
2025	256
2026	176
Thereafter	1,178
Total	$	2,320

Alaska has three credit facilities totaling $486 million as of June 30, 2022. One of the credit facilities for $150 million expires in March 2025 and is secured by certain accounts receivable, spare engines, spare parts and ground service equipment. A second credit facility for $250 million expires in June 2024 and is secured by aircraft. Both facilities have variable interest rates based on LIBOR plus a specified margin. A third credit facility for $86 million expires in June 2023 and is secured by aircraft.

Alaska has secured letters of credit against the third facility, but has no plans to borrow using either of the other two facilities. All credit facilities have a requirement to maintain a minimum unrestricted cash and marketable securities balance of $500 million. Alaska was in compliance with this covenant at June 30, 2022.

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